American ideals, and other essays, social and politicalRoosevelt, Theodore
General
American ideals, and other essays, social and political
Roosevelt, Theodore
National characteristics, American; United States -- Politics and government; United States -- Social conditions -- 1865-1918
He makes only one exception. A miner or speculator in mines may be many
times a millionaire and yet remain in good standing in the Populist
party. The Populist has ineradicably fixed in his mind the belief that
silver is a cheap metal, and that silver money is, while not fiat
money, still a long step toward it. Silver is connected in his mind
with scaling down debts, the partial repudiation of obligations,
and other measures aimed at those odious moneyed tyrants who lend
money to persons who insist upon borrowing, or who have put their
ill-gotten gains in saving banks and kindred wicked institutions for
the encouragement of the vice of thrift. These pleasurable associations
quite outweigh, with the Populist, the fact that the silver man himself
is rich. He is even for the moment blind to the further fact that these
pro-silver men, like Senator Stewart, Governor Altgeld, and their
compeers, strenuously insist that the obligations to themselves shall
be liquidated in gold; indeed this particular idiosyncrasy of the
silver leaders is not much frowned upon by the bulk of the Populists,
because it has at least the merit of savoring strongly of “doing”
one’s creditors. Not even the fact that rich silver mine owners may
have earned their money honestly can outweigh the other fact that they
champion a species of currency which will make most thrifty and honest
men poorer, in the minds of the truly logical Populist.
But Mr. Sewall has no fictitious advantage in the way of owing his
wealth to silver. He has made his money precisely as the most loathed
reprobate of Wall Street--or of New York, which the average Populist
regards as synonymous with Wall Street--has made his. The average
Populist does not draw fine distinctions. There are in New York, as
in other large cities, scoundrels of great wealth who have made their
money by means skilfully calculated to come just outside the line of
criminality. There are other men who have made their money exactly as
the successful miner or farmer makes his,--that is, by the exercise
of shrewdness, business daring, energy and thrift. But the Populist
draws no line of division between these two classes. They have made
money, and that is enough. One may have built railroads and the other
have wrecked them, but they are both railroad men in his eyes, and
that is all. One may have swindled his creditors, and the other built
up a bank which has been of incalculable benefit to all who have had
dealings with it, but to the Populist they are both gold bugs, and as
such noxious. Mr. Sewall is the type of man the contemplation of which
usually throws a Populist orator into spasms. But it happens that he
believes in free silver, just as other very respectable men believe
in spirit rapping, or the faith-cure, or Buddhism, or pilgrimages to
Lourdes, or the foot of a graveyard rabbit. There are very able men and
very lovely women who believe in each or all of these, and there are a
much larger number who believe in free silver.
Public-domain text, read in full here on John Shaqi.
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